Common use of Directors positions and recent vacancies Clause in Contracts

Directors positions and recent vacancies. Except as otherwise provided in accordance with the rights of the holders of any class or series of preferred shares to elect directors under specific circumstances, the position of director recently created that result in an increase in the number of directors an those resulting from death, resignation, incapacity, removal or any other reason, must be filled only with the affirmative vote by the majority of the directors remaining in office or by a single remaining director, although representing less than a quorum for the Board. Every director elected in accordance with the preceding sentence will exercise his/her functions for the remaining period until the expiration of the term of the new director position created or that of the vacant office and until the successor of such director has been elected and qualified. ARTICLE 6 -